Will Branson still have a 51% controlling share? If so I wouldn't want to buy SQ's ahare. If Air France KLM bought out some of Branson's share so that DL/AF/KL had a controling share it could be very interesting.

A Thames Estuary airport in the fashion of HKG would probably be predicated on closing of Heathrow or Gatwick, conceivably both. With four runways and capacity for 150 million passengers, slots would not be as pricey in a new facility. Currently, those LHR slots have a lot of value particularly if new runway construction is limited and Gatwick has to operate as a single runway because of separation problems. This will be a guess on the part of Delta as to whether the Brits will solve their London problem in the Thames East of London.

Good points, however I am not so confident that the Thames Estuary project will go forward. Plus look at the money that has been invested into LHR in the last 10 to 15 years a fast train rail link, T5, as well the current T1/T2 project. Personally I feel they should just build a third runway at LHR. The cheapest and easiest solution. Also to Heathrow's neighbors I would say in most cases who was there first you or the airport. In most cases I suspect the airport was there first.

You are probably right as this would take an investment of at least 60 Billion Pounds in 2012 values and the premature deaths of half a million Envirowhackos. On the other hand an airport resembling HKG without the great dim sum but with all its fast rail and services would drive huge amounts of additional commerce through London as LHR, LGW and FRA are pretty much maxed out. Rail, air and sea in a single facility without having to fight the surrounding community would be a treasure and keep a leg up on AMS. That third runway at LHR will open right after date of the second coming of the twelfth Imam.

My suspicion is that SQ foresees some solution in the future and wants to cash in while the Virgin stock has maximal value. Once any announcement of either a new airport or a third runway at LHR is made the value will tail off quickly. The other uncertainty is whether a non-binding referendum on EU membership will be called next year, the result of which almost certainly will be to exit.